E-commerce is still throwing a lot of people over the handlebars.
To adapt (and thrive) in this new world, a brand’s key investment has to be in people who can define e-commerce success and deliver on it. This requires a particular skill set.
The gaps between retail, digital marketing, and supply chains are closing fast, meaning brands need to have a B2C strategy in place to manage e-commerce. It starts with having direct conversations with customers. You need data (historical and real time) to drive product development, education, and even store placement. This requires a particular set of skills that can only be learned or brought into your business – you might have to go looking for the right people to do that.
Ultimately, business models that don’t adapt will see declining margins through their inability to compete. That’s the long story short. If Amazon, mobile, and speedy delivery aren’t part of your plans moving ahead, you’d better know something nobody else does.
Originally published by Brian Gonsalves on LinkedIn